Yesterday gold was
fascinating shiny and moved above the resistance at $1,337, where 100-day
moving average is placed. Of course the major market mover was the FOMC statement
release, offering fresh numbers pointing out improvement in US economy. The
news was running trough the golden track and dragged gold to daily high at
$1,344.
Today the precious metal was seen in smooth mood, trying to break another brick
in the resistance wall at $1,338, where 21-day moving average is located.
Eyes catched must be around $1,325, where the 200-day
moving average is hypnotizing on downwards and possibly could jack gold further
to $1,312 area.
Do you remember gold on the street of dreams, running from the memories of
$1,375 highs form the beginning of July? Should the bulls be spellbound of $1,338 resistance level, further moving
on up will take place, heading up to $1,355
area.
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